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Bloomberg Poll: Americans Decidedly Negative on Business and Economy

Posted by Larry Doyle on March 23, 2010 9:31 PM |

A Bloomberg National Poll of 1002 people over the last three days is quite revealing. (The poll has a margin of error of +/- 3.1%)

Almost across the board, those polled (who were randomly selected) are more negative than positive or even neutral on a variety of key topics. Rather than my adding editorial comments, let’s look at the data:

The Value of Your Investments
A lot better 6%
A little better 25%
Same 22%
A little worse 29%
A lot worse 17%
Not Sure 1%

The Overall U.S. Economy
A lot better 4%
A little better 25%
Same 13%
A little worse 23%
A lot worse 34%
Not Sure 1%

The Businesses in Your Community
A lot better 2%
A little better 14%
Same 28%
A little worse 33%
A lot worse 21%
Not Sure 2%

The Value of Homes in Your Community
A lot better 2
A little better 12
Same 28
A little worse 31
A lot worse 25
Same 2

The Image of U.S. in Other Countries
A lot better 11%
A little better 16%
Same 19%
A little worse 21%
A lot worse 30%
Not Sure 3%

The Strength of Our Nation
A lot better 7%
A little better 18%
Same 24%
A little worse 25%
A lot worse 24%
Not Sure 2%

What is my quick take on this poll? I would categorize America’s responses almost uniformally using that same “three letter” word Joe Biden utilized when commenting on the economy . . . J-O-B-S. With the underemployment rate running upwards of 17%, and perhaps understated at that, Americans do not see answers on Wall Street or in Washington.

Americans hold Wall Street, corporate executives, and our Washington establishment in roughly equal disdain. How so? The poll indicates that close to 60-70% of Americans have an unfavorable or strongly unfavorable view of these groups.

Surprisingly or not, Americans are not in favor of a new consumer financial protection agency but would simply like to see the current regulations properly exercised.

In the face of this poll, how is the market going up? DON’T FIGHT the FED. When the Federal Reserve wants the market to go in one direction, it can and will make that happen . . . and it is. That fact does not mean we are supposed to like or trust the Fed, we just are not supposed to fight it.

Bloomberg provides a thorough review of this poll in writing, Wall Street Despised in Poll Showing Majority Want Regulation.

Based on the results of the poll, it is not diffcult to gauge the ENORMOUS disconnect between Wall Street and Main Street and also Main Street and Washington. How would you answer the questions asked above?

LD

  • Fed Up

    LD,

    What stands out to me in this poll is that consistently half the respondents view our situation as worse (either a little or a lot).

    …does Washington hear this? Clearly not. Batten down the hatches. We are in for a looooong and bumpy ride.






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